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President Donald Trump signed the GENIUS Act into law on Friday inside the White House, following through on a key campaign promise to support crypto. Surrounded by Republican lawmakers and crypto executives, Trump finalized the bill that brings in new rules for stablecoins, officially locking in Congressâs first real attempt to regulate crypto. According to the fact sheets, the law gives stablecoins a defined legal structure. It also cements cryptoâs growing influence in Washington, putting the industry in front of the cameras and into official U.S. policy. Trump didnât hold back when speaking to the crowd. âThis could be perhaps the greatest revolution in financial technology since the birth of the internet itself,â he said . âA lot of people are saying that. What do you guys think? If you say yes, Iâm saying yes.â Trump praises allies, highlights crypto campaign gains Trump was joined at the signing by several Republican leaders who helped get the bill passed. He named Senator Bill Hagerty of Tennessee, who wrote the legislation; House Financial Services Chair French Hill of Arkansas; House Majority Whip Tom Emmer of Minnesota; and Speaker Mike Johnson. Industry names were also recognized: Brian Armstrong of Coinbase, Jeremy Allaire of Circle, and Paolo Ardoino of Tether. âThis signing is a massive validation of your hard work and your pioneering spirit and your ability to never give up,â Trump said to the crypto execs in the room. Trump used the 2024 election to push pro-crypto policies in contrast to the Biden administrationâs tougher stance. âItâs good for the dollar and itâs good for the country,â he said. âAnd thatâs why I backed you at an early stage. And I also did it for the votes, because you did come out and vote, I will say.â But Trumpâs connection to crypto isnât just about policy. Bloomberg found that heâs made around $620 million from crypto projects during his second term. That includes $460 million from World Liberty Financial, a decentralized finance firm that sells its own tokens. The Trump family has a financial stake in that venture. On top of that, Reuters reported that Trumpâs meme coin, called $TRUMP, has pulled in about $320 million in fees, although itâs unclear how much of that cash has gone directly to entities Trump controls. Democrats blast the bill as a conflict of interest The bill wasnât met with universal applause. Democrats, led by Senator Elizabeth Warren of Massachusetts, have raised alarms over Trumpâs deepening ties to the crypto space. âThe GENIUS Act will accelerate Trumpâs corruption by supercharging the size of the stablecoin market and the reach and profitability of Trumpâs USD1,â Warren said on the Senate floor back in May. âAnd, for the first time in American history, this bill will make our President, Donald Trump, the regulator of his own financial product.â Republicans didnât stop with the GENIUS Act. The GOP-controlled House also passed two more crypto-focused bills this week. The first, which cleared in a 219-210 vote without Democratic support, would prevent the Federal Reserve from creating a central bank digital currency. The second one, called the Clarity Act, passed by 294-134 and would reduce the SECâs authority over crypto, giving the industry more room to operate. Seventy-eight House Democrats joined Republicans in voting for it. Trump closed out the signing by promising more expansion. âWeâre going to be growing it even more,â he said about the crypto industry, âmore than anyone ever thought.â Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
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BitcoinWorld Crypto Futures Liquidation: Urgent Warning as $107 Million Vanishes in an Hour The cryptocurrency market, a realm known for its exhilarating highs and stomach-churning lows, has once again delivered a stark reminder of its inherent volatility. In a dramatic turn of events that sent ripples across trading desks worldwide, a staggering $107 million worth of crypto futures contracts were liquidated in just the past hour . This isnât an isolated incident; itâs part of a larger, more ominous trend, with nearly $989 million in futures liquidations recorded over the last 24 hours . For many, this represents a sudden and painful loss, a vivid illustration of the razor-edge risks associated with leveraged trading. But what exactly does this mean, and why are we seeing such a massive crypto futures liquidation event? What Just Happened? Decoding the Crypto Futures Liquidation Event Imagine a high-stakes game where players borrow money to amplify their bets. Thatâs essentially what happens in futures trading, especially with leverage. When a trader opens a futures position, theyâre not buying or selling the actual asset (like Bitcoin or Ethereum) but rather a contract to buy or sell it at a predetermined price in the future. To increase potential profits, many traders use leverage, meaning they put down a small amount of their own capital (margin) and borrow the rest. A liquidation occurs when a traderâs margin balance falls below a certain threshold, typically due to adverse price movements against their position. Exchanges automatically close these positions to prevent further losses for both the trader and the exchange. The $107 million figure represents the total value of these forced closures in a very short timeframe, indicating a rapid and significant price swing that caught many leveraged traders off guard. The larger 24-hour figure of $989 million paints an even broader picture of the immense financial pressure experienced by the market. Think of it like this: You open a long position: You bet the price will go up. You use 10x leverage: For every $1 you put in, you control $10 worth of crypto. The price drops significantly: Your initial $1 (and the borrowed $9) is quickly eroded. Margin Call/Liquidation: If the price drops enough, your position is automatically closed by the exchange to protect the borrowed funds, and your initial capital is lost. This rapid succession of forced closures can create a domino effect, often referred to as a liquidation cascade , further exacerbating price declines and leading to even more liquidations. Why Does Crypto Market Volatility Lead to Such Events? The very nature of the cryptocurrency marketâits crypto market volatility âis a double-edged sword. While it offers unparalleled opportunities for rapid gains, it also presents substantial risks. Unlike traditional markets, crypto markets operate 24/7, are less regulated, and are highly susceptible to sudden shifts in sentiment, news, and whale movements. This inherent unpredictability is a primary driver of large-scale liquidation events. Several factors contribute to this extreme volatility: Low Liquidity (for some assets): While major cryptocurrencies like Bitcoin and Ethereum have deep liquidity, many altcoins do not. Lower liquidity means that even relatively small buy or sell orders can cause significant price swings. News and Sentiment: Regulatory announcements, major hacks, celebrity endorsements, or even a single tweet can send prices soaring or plummeting within minutes. Macroeconomic Factors: Broader economic trends, interest rate changes, or global geopolitical events can also influence investor appetite for risk assets like cryptocurrencies. Interconnectedness: The crypto market is highly interconnected. A price drop in Bitcoin can often drag down the entire market, triggering liquidations across various altcoin futures positions. When these factors combine, they can create the perfect storm for rapid price movements that quickly push leveraged positions past their liquidation points, leading to the kind of numbers weâve just witnessed. Navigating the Perils of Leveraged Trading Leveraged trading, while offering the allure of magnified profits, significantly amplifies risk. Itâs a powerful tool, but one that demands extreme caution and a deep understanding of its mechanics. For every dollar of profit you could potentially gain, you risk losing many more, often your entire initial investment, in a flash. Consider the stark difference between spot trading and leveraged futures trading: Feature Spot Trading Leveraged Futures Trading Ownership You own the underlying asset. You own a contract, not the asset. Risk Exposure Limited to your initial investment. Potentially much higher than initial investment (though most exchanges limit losses to margin). Profit/Loss Directly proportional to price movement. Magnified by the leverage ratio. Liquidation Risk None (unless selling under duress). High, if price moves against your position. The allure of leveraged trading is undeniable: turning a small capital base into significant gains. However, this appeal often overshadows the inherent dangers, particularly for inexperienced traders who might not fully grasp the concept of margin maintenance and liquidation prices. Itâs crucial to approach leveraged positions with a robust risk management strategy, treating them as extremely high-risk ventures. Understanding Futures Trading Risks and Mitigation Beyond the general volatility, futures trading risks are specific and need careful consideration. The primary risk is, of course, liquidation, but there are others: Counterparty Risk: While exchanges mitigate this, thereâs always a theoretical risk associated with the exchange itself. Funding Rates: In perpetual futures contracts, traders pay or receive funding rates periodically, which can eat into profits or increase losses, especially in volatile markets. Slippage: During periods of high volatility, your order might not be filled at the exact price you expect, leading to slippage and potentially worse entry/exit points. Over-leveraging: The biggest pitfall. Using excessively high leverage (e.g., 50x, 100x) means even a tiny price fluctuation can wipe out your entire margin. So, how can traders mitigate these risks? Itâs not about avoiding futures trading entirely if you understand it, but about approaching it with discipline and a strong defensive strategy: Use Stop-Loss Orders: This is arguably the most critical tool. A stop-loss order automatically closes your position when the price reaches a predetermined level, limiting your potential losses. Manage Your Leverage: Resist the temptation of extremely high leverage. Start with lower leverage ratios (e.g., 2x-5x) until you are highly proficient. Understand Your Liquidation Price: Always know at what price your position will be liquidated. Most exchanges provide this information. Donât Over-Allocate: Only trade with capital you can afford to lose. Never put a significant portion of your portfolio into highly leveraged positions. Monitor Market Conditions: Stay updated on news, market sentiment, and technical analysis. Avoid trading during periods of extreme uncertainty if youâre not an experienced professional. Effective risk management is not just a suggestion; itâs a necessity for survival in the fast-paced world of crypto futures. Preventing Liquidation Cascades: Strategies for Traders The concept of liquidation cascades is a terrifying reality for many traders. Itâs a vicious cycle: a price drop triggers initial liquidations, which adds selling pressure, leading to further price drops, which in turn trigger more liquidations, and so on. This feedback loop can accelerate market downturns dramatically. While individual traders cannot prevent a market-wide cascade, they can certainly protect themselves from being caught in one. Here are strategies to consider: Diversify Your Portfolio: Donât put all your eggs in one basket. Spreading your investments across different assets and strategies can cushion the blow of a single assetâs downturn. Take Profits Regularly: Donât be greedy. Secure profits when you have them, especially after significant price appreciation. Reinvesting a portion of profits can also help build a stronger capital base. Maintain Sufficient Margin: Always keep more margin than the minimum required. This provides a buffer against sudden price movements and gives you time to react if the market turns against you. Avoid Emotional Trading: Fear of missing out (FOMO) and fear of losing (FUD) are powerful emotions that can lead to irrational decisions. Stick to your trading plan and avoid impulsive trades based on market hype or panic. Utilize Cross Margin (Cautiously): Some platforms offer cross margin, where your entire portfolio acts as collateral. While this can prevent individual position liquidations, it also means a large loss can impact your entire account. Use with extreme caution and clear understanding. Educate Yourself Continuously: The crypto market evolves rapidly. Stay informed about new trading tools, market analysis techniques, and regulatory changes. By implementing these strategies, traders can build resilience against the inherent risks of the crypto market and minimize their exposure to liquidation events. The recent liquidation event highlights the volatile nature of crypto markets. Crypto Futures Liquidation: Urgent Warning as $107 Million Vanishes in an Hour The Human Element: Impact on Traders Beyond the numbers, these massive liquidation events have a profound human impact. For many, the funds lost represent significant savings, hard-earned capital, or even life-changing opportunities that evaporated in minutes. The emotional toll of such losses can be immense, leading to stress, anxiety, and burnout. It underscores the importance of mental resilience and a balanced approach to trading. It also highlights the need for robust investor protection mechanisms and clearer educational resources from exchanges and platforms. While the âbuyer bewareâ principle is strong in crypto, the rapid growth of leveraged products necessitates a higher standard of care and transparency. Actionable Insights for Navigating Volatility So, what can you, as a participant or observer of this dynamic market, take away from this urgent warning? Prioritize Risk Management: This cannot be overstated. Understand your risk tolerance and implement strict stop-loss orders. Never risk more than you can afford to lose. Educate Yourself: Before diving into complex instruments like futures, spend ample time understanding how they work, the associated risks, and the strategies to manage them. Start Small: If youâre new to leveraged trading, begin with very small position sizes and low leverage. Gain experience before scaling up. Stay Informed, Not Obsessed: Keep up with market news and analysis, but avoid constant screen-watching, which can lead to emotional decisions. Consider Long-Term Investing: For many, a âbuy and holdâ strategy for fundamentally strong assets may be less stressful and potentially more rewarding than high-frequency leveraged trading. The recent liquidation figures serve as a powerful reminder that while the crypto market offers incredible opportunities, it also demands respect for its volatility and a disciplined approach to risk. To learn more about the latest crypto market trends , explore our article on key developments shaping Bitcoin price action . Summary: A Harsh Lesson in Market Dynamics The past hourâs staggering $107 million crypto futures liquidation , culminating in nearly a billion dollars over 24 hours, serves as a harsh but invaluable lesson in the unpredictable nature of the cryptocurrency market. It underscores the amplified risks of leveraged trading and the critical importance of robust risk management strategies. While the allure of magnified profits is strong, the perils of crypto market volatility and futures trading risks are equally potent. Traders must approach these instruments with caution, discipline, and a clear understanding of how to prevent devastating liquidation cascades . Ultimately, success in this environment hinges not just on predicting price movements, but on skillfully navigating the inherent dangers of leveraged trading and protecting capital against rapid shifts. Stay safe, stay informed, and trade wisely. Frequently Asked Questions (FAQs) Q1: What exactly is crypto futures liquidation? A1: Crypto futures liquidation is the forced closure of a traderâs leveraged position by an exchange due to insufficient margin to cover potential losses. This happens when the market price moves significantly against the traderâs open position, and their initial collateral (margin) is no longer enough to maintain the trade. The exchange liquidates the position to prevent the trader from incurring further debt and to protect the borrowed funds. Q2: Why do large liquidation events occur in the crypto market? A2: Large liquidation events are primarily driven by the inherent high volatility of the crypto market. Sudden, sharp price movements (up or down) can quickly push many leveraged positions to their liquidation points. Factors contributing include major news events, macroeconomic shifts, significant whale activity, and the interconnectedness of various crypto assets, which can lead to a domino effect known as a liquidation cascade. Q3: How does leverage contribute to liquidations? A3: Leverage allows traders to open positions larger than their initial capital by borrowing funds from the exchange. While this can magnify profits, it also magnifies losses. With high leverage, even a small adverse price movement can quickly erode a traderâs margin, leading to a margin call or immediate liquidation because the borrowed funds are at risk. The higher the leverage, the smaller the price movement required to trigger a liquidation. Q4: What is a liquidation cascade? A4: A liquidation cascade is a chain reaction where initial liquidations trigger further price drops, which in turn trigger more liquidations. When a position is liquidated, the underlying assets are often sold off by the exchange, adding selling pressure to the market. This increased selling pressure can push prices down further, causing more leveraged positions to hit their liquidation thresholds, creating a rapid downward spiral. Q5: How can traders protect themselves from liquidation? A5: Traders can protect themselves by implementing robust risk management strategies. Key methods include using stop-loss orders to limit potential losses, using lower leverage ratios, maintaining sufficient margin in their accounts, diversifying their portfolios, and avoiding over-allocation of capital to single trades. Continuous education and avoiding emotional trading decisions are also crucial. Did this article help you understand the recent crypto market turmoil and the intricacies of futures liquidations? Share this crucial information with your friends, fellow traders, and anyone interested in navigating the volatile world of cryptocurrencies. Your shares help us spread awareness and foster a more informed trading community. Letâs learn and grow together! This post Crypto Futures Liquidation: Urgent Warning as $107 Million Vanishes in an Hour first appeared on BitcoinWorld and is written by Editorial Team
In a landmark week for the U.S. crypto industry, President Donald Trump signed the GENIUS Act into law , following its dramatic rescue from legislative limbo just days earlier. The move marks a seismic shift in the regulatory framework for digital assets, particularly dollar-backed stablecoins, and indicates a broader push by the Trump administration to bring clarity and control to the sector. BREAKING: President Trump has officially signed the GENIUS Act into law, unleashing Americaâs leadership in the crypto space He even took a swipe at Biden while signing, saying âthis is NOT an autopen, by the way!â HUGE win for our country! pic.twitter.com/2mN20i56xE â Nick Sortor (@nicksortor) July 18, 2025 Simultaneously, the Securities and Exchange Commission (SEC) is considering targeted regulatory relief for tokenized securities, and Democratic lawmakers are escalating their opposition, painting the Republican-led crypto agenda as a dangerous concession to industry elites. Trumpâs Crypto Comeback Tuesdayâs initial failure of the GENIUS Act in the Houseâwhere it was blocked in a 196â223 voteâsent shockwaves through the crypto industry, threatening to derail what Republicans had dubbed âCrypto Week.â GENIUS Act, Anti-CBDC Act, and CLARITY Act pass crucial procedural vote 215-211 in Congress after Trump's decisive Oval Office intervention rescues stalled crypto agenda. #GeniusAct #Trump https://t.co/Lm2tCBbimp â Cryptonews.com (@cryptonews) July 16, 2025 But by Wednesday night, the tide turned. In a rare Oval Office intervention, President Trump rallied House Republicans, warning that failure to advance digital asset legislation would undermine U.S. innovation and competitiveness. The strategy paid off. On July 16, a revised procedural motion passed in a 215â211 vote with zero Democratic support, greenlighting the GENIUS Act, the Anti-CBDC Surveillance State Act, and the CLARITY Act for final House votes. The GENIUS Actâshort for Guiding and Establishing National Innovation for U.S. Stablecoins âhad already passed the Senate in June by a bipartisan 68â30 vote. The bill mandates 1:1 reserve backing for stablecoins, introduces federal licensing pathways for issuers, and firmly places oversight responsibilities in the hands of prudential regulators. SEC Softens Stance on Tokenization In a parallel development, SEC Chairman Paul Atkins announced that the agency is evaluating âinnovation exemptionsâ to ease the regulatory burden on tokenization platforms and digital asset infrastructure providers. The SEC is weighing an âinnovation exemptionâ to boost tokenization, just as the House passes a landmark stablecoin bill reshaping US crypto policy. #Tokenization #CryptoPolicy https://t.co/za9zOMVvfm â Cryptonews.com (@cryptonews) July 18, 2025 Speaking shortly after the House approved the trio of crypto bills, Atkins told reporters that the SEC is reviewing ways to support novel trading models and infrastructure for tokenized securities. âWeâre at an inflection point where technology is outpacing regulation,â Atkins said. âRather than stifle innovation, weâre exploring guardrails that allow responsible experimentation, particularly in tokenized equity and real-world asset platforms.â Such moves hint at a softer, more pragmatic approach from the SEC under mounting political and industry pressure. The idea of a sandbox-like exemption could help address longstanding complaints from blockchain firms that the current regulatory framework, built around 20th-century financial models, is ill-suited to tokenized economies. Democrats Push Back Hard Not everyone is on board with this regulatory momentum. Congresswoman Maxine Waters (D-CA), a longtime critic of the crypto industry, launched a fierce counteroffensive against the GOPâs crypto legislation package. Rep. Maxine Waters is slamming congressional efforts to advance crypto legislation this week in a scathing July 16 press release. #MaxineWaters #CryptoWeek https://t.co/BzgYMmUTSt â Cryptonews.com (@cryptonews) July 16, 2025 In a pair of fiery press releases published by the House Financial Services Committee, Waters slammed the GENIUS and CLARITY Acts as reckless and dangerous. âThis bill, which should be called the âCALAMITY Act,â is bad public policy, plain and simple,â she wrote. âIt exposes consumers to exploitation by bad actors in the crypto industry, undermines national security, and ignores Donald Trumpâs escalating conflicts of interest tied to his personal involvement in cryptocurrency.â Waters didnât hold back on President Trump either, accusing him of using public policy to further his crypto-related business interests. âThese bills throw hardworking Americans under the bus,â she said, âputting them at risk for a future financial crisisâall to legitimize Donald Trumpâs crypto scams.â In an even more blistering statement, Waters declared the legislation would âcreate a casino for crypto billionaires to make more profits,â characterizing the Republican strategy as a gift to âgrowing crypto crimes.â Congresswoman Maxine Waters is making a case against crypto legislation in her latest press release against "Crypto Week." #MaxineWaters #CryptoWeek https://t.co/4nE6WGJAuK â Cryptonews.com (@cryptonews) July 17, 2025 Whatâs Next? With the GENIUS Act now law, attention turns to how the legislation will be implemented. The Act provides for an 18-month rulemaking and compliance window, during which federal agencies will coordinate with states to finalize supervisory frameworks for stablecoin issuers. The SECâs potential regulatory tweaks are still in the consultation phase, but if implemented, they could offer much-needed breathing room for tokenized platforms attempting to scale legally in the U.S. Meanwhile, Democrats are expected to continue challenging the new regulatory framework, possibly through judicial reviews or state-level resistance. The post Weekly Crypto Regulation Roundup: Trump Signs GENIUS Act and SEC Eyes Tokenization Tweaks appeared first on Cryptonews .
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Donald Trump has decided to jack up tariffs on every single good coming from Europe, pushing for a baseline rate of 15% to 20% in the next trade deal, according to the Financial Times . This comes after multiple rounds of back-and-forth talks with Brussels that aimed to hold tariffs at 10%, but that ideaâs been tossed. The White House has rejected the EUâs last offer to ease auto tariffs, and officials close to the negotiations say Trump is completely fine keeping duties on European cars locked at 25%, just like they are now. This escalation is all part of Trumpâs strategy to pressure the EU as they approach his August 1 deadline. If thereâs no deal by then, heâs planning to hit all European imports with a 30% tariff, no exceptions. A U.S. official allegedly told the Financial Times that even if both sides reach some kind of agreement, Trump still expects âreciprocalâ tariffs to stay above 10%. Thatâs a hard red line. And with time running out, Europeâs got almost no room to maneuver. EU fears retaliation but faces internal divide On Friday, MaroĹĄ Ĺ efÄoviÄ, the European Commissioner for Trade, gave a closed-door briefing to EU ambassadors after his Washington meetings. Two diplomats present said MaroĹĄ painted a bleak picture. The U.S. side didnât budge, even as Brussels tried to pitch targeted cuts for specific sectors. No deal, no movement, just a wall. The same day, German Chancellor Friedrich Merz publicly admitted things werenât going well. âWhether we can still create sectoral rules, whether we can treat individual sectors differently from others, is an open question,â Friedrich said. âThe European side supports this. The American side views it more critically.â With Trumpâs tariffs now looking like theyâll stay between 15% and 20%, the rates would land right where they were back in April, when trade talks started. Thatâs a full reset. A senior EU diplomat warned Brussels might be forced to retaliate, especially since the U.S. already slapped 50% duties on EU steel and aluminum. âWe donât want a trade war, but we donât know if the U.S. will leave us a choice,â the diplomat said. A second EU official confirmed things are shifting: âThe mood has clearly changedâ toward retaliation. âWe are not going to settle at 15%,â they said, pushing back against settling for a number Trump seems locked into. Stock markets dip as Brussels readies countermeasures News of Trumpâs latest demands caused a dip in U.S. markets. The S&P 500 dropped 0.2% after the story broke. But most traders are brushing it off. Theyâve seen this before. Back in April, Trump threw global trade into chaos when he imposed high reciprocal tariffs on nearly all of Americaâs major trade partners. Later, he rolled those tariffs down to 10% for a temporary 90-day window, but the damage was already done. Still, U.S. stocks have climbed since then. Markets even rallied to new highs. That momentum may be why Trump doesnât feel pressure to back off, even as warnings pile up from economists. Theyâve flagged risks of rising inflation tied to his trade strategy, but so far, consumer prices in the U.S. only ticked up slightly this month. That minor bump hasnât changed anything at the White House. In the meantime, the U.S. pulled in nearly $50 billion in extra customs revenue during the second quarter alone. And so far, no major trading partner has followed through with full retaliation. That includes Europe, which has been planningâand delayingâcounter-tariffs for months. But with the August 1 deadline now looming, those plans are finally moving. Brussels is preparing to roll out duties on âŹ21 billion worth of U.S. goods starting August 6. That includes chicken and jeans. Another package targets âŹ72 billion, with bourbon and Boeing aircraft on the hit list. A third group of countermeasures is still being drafted, and will likely include new taxes on digital services and online ads, according to someone involved in the talks. The U.S. currently imports âŹ380 billion in EU exports annually, which is out of a total âŹ532.3 billion. That makes the U.S. the EUâs biggest single customer, accounting for a fifth of all European exports. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
U.S. President Donald Trump signed the GENIUS Act into law at the White House on Friday afternoon, marking a landmark win for crypto policy proponents. Donald Trump Ratifies The GENIUS Act Known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the billâs signing left Trump all smiles as he offered his congratulations while addressing key U.S. lawmakers and reporters at the watershed bill signing on July 18. . @POTUS : "The GENIUS Act â they named it after me." pic.twitter.com/TpqvTCmNxO â Rapid Response 47 (@RapidResponse47) July 18, 2025 âWe worked hard. Itâs a very important actâthe GENIUS Actâthey named it after me,â Trump joked. âI want to thank you. This is a hell of an act.â âLet me say, the entire crypto community, for years you were mocked and dismissed and counted out,â the president continued. âYou were counted out as little as a year and a half agoâbut this signing is a massive validation.â Crypto Legislation Triumphs Despite Pushback From U.S. Lawmakers Trumpâs commentary comes just one day after the GENIUS Act passed through the chamber in a 308-122 vote on Thursday during the Republican Partyâs self-declared âCrypto Week.â The key stablecoin bill was just one of three pieces of hotly debated crypto legislation up for consideration this week in the House of Representatives, alongside the CLARITY Act and the Anti-CBDC Act. All three of the crypto bills failed during a procedural vote on Tuesday that saw U.S. President Donald Trump hold late-night talks with holdout lawmakers. The ratification of the GENIUS Act has largely been praised by members of the crypto community , though several high-ranking Democrats have pushed back against the advancement. Congresswoman Maxine Waters (D-CA) launched her own âAnti-Crypto Corruption Weekâ in opposition to the advancement of the three key pieces of crypto legislation. âThese bills throw hardworking Americans under the bus, putting them at risk for a future financial crisisâall to legitimize Donald Trumpâs crypto scams,â Waters said in a recent statement. The post Donald Trump Signs GENIUS Act Into Law: âThey Named It After Meâ appeared first on Cryptonews .